TheTourAttraction.com aims to provide the latest global travel and free travel news, travel and visa policies, and flight information. We hope to provide insights into tourism market, technology and development trends with everyone by providing the latest relevant information. Despite the raging COVID-19 epidemic in 2020, we always firmly believe that mankind will overcome the disease and the tourism market will definitely recover. TheTourAttraction.com look forward to your attention and support, and witness the development of the global tourism industry with us. Looking forward to the information TheTourAttraction.com provide can help you. We will continue to follow up and obtain the latest data, and look forward to your attention and support.
The following is the [Travel News]: Upscale hotel market booming on Chinese mainland from [Shine] recommended by TheTourAttraction.com:
Shanghai has a mature high-end consumption market, and the Great Bay area is thriving.
Rising demand for premium hospitality experiences is boosting China’s luxury hotel market.
A recent survey by the world’s largest hospitality consulting brand Horwath HT reveals robust growth in the upper-midscale hotel market on Chinese mainland in 2020. In particular, deals involving luxury hotels reported a year-on-year increase of 167%.
Figures by online travel operator Trip.com show that high-end hotels accounted for nearly 40% of bookings during the Labor Day holiday.
The COVID-19 pandemic dealt a huge blow to the global hospitality industry last year. But in China, 2020 witnessed rapid growth in the luxury hotel market. Domestic demand is mushrooming, and the trend will continue, said Executive Director Zoe Wu of Horwath HT.
US hotel giant Hilton’s latest luxury signings in Shanghai have lent support to her prediction.
The hotel chain has recently signed strategic agreements with China’s Shimao Group to open four luxury hotels — a Waldorf Astoria hotel in Shenzhen and three Conrad hotels in Shanghai, Wuhan and Zhuhai.
Hilton remains bullish on China, and is increasing its stakes in the domestic luxury hotel market, hoping to tap into ballooning growth potential, according to Jerry Huang, president of development, Hilton China and Mongolia.
Shanghai has a mature high-end consumption market, and the Great Bay area is thriving. Wuhan is also set for growth due to strong government support and its advantageous location, according to Tyrone Tang, chairman and chief executive officer of Shanghai Shimao Hotel Management Company.